Rupee hits a new low of 88.80/$, down over 3.5% in this year

The Indian rupee experienced a significant drop against the dollar, despite the dollar's global weakness, due to concerns over increased US tariffs and H-1B visa fees. This decline has negatively impacted India's IT sector, although the RBI intervened to manage volatility. Experts anticipate a potential rupee recovery in October, expecting the dollar and rupee to move in opposite directions.

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